{"id":226,"date":"2008-11-28T16:14:57","date_gmt":"2008-11-28T20:14:57","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=226"},"modified":"2008-11-29T00:39:57","modified_gmt":"2008-11-29T04:39:57","slug":"why-i-trade-on-black-friday","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/why-i-trade-on-black-friday","title":{"rendered":"Why I Trade on Black Friday"},"content":{"rendered":"

There were very few on the train to work this AM. The volume is very light on the day after Thanksgiving. Probably 80 percent of traders take today off. Why did I trade today?<\/p>\n

Back in the day two of the best days I have had trading were on Black Friday. During the Internet Boom I walked in up close to 50k because of small overnight positions in EBAY and YHOO. The previous year I was up huge again on the Open from overnights. I will never forget these trading days. I don’t want to miss another of those days.<\/p>\n

Overall I just don’t like missing trading days. What happens today will help us make money tomorrow. Seeing the market trade today will help me on Monday.<\/p>\n

Even though the volume was light there were opportunities. Most of our desk traded CHK today. This was the news on CHK found on briefing.com: \tChesapeake Energy files Form S-4 with SEC to sell 50.0 mln shares of common stock at a proposed price of $15.82 (20.24 ). There was a huge battle on the Open at 17.25 and then CHK failed. CHK was a simple short until 15.83. And then CHK was a great long write in front of the proposed price listed above of 15.82. Not for one second was I out of the money in my 15.83 long. CHK traded up to 17. Chop on the short side. Chop on the long. There was just free money today in CHK. But only because I showed up.<\/p>\n

This a great trading market. My suspicion is that this market will continue for a few years. But you never know. I will make as much as I can in this great trading market. <\/p>\n

Over the weekend some of the retail numbers from Black Friday will roll in. Pay attention to surprises. Next week we may see some excellent trading opportunities in the retailers. Also, GS has gone up a ton very quickly. I will look for weakness in GS on Monday and Tuesday. GS was very weak into the Close. If I spot some weakness I will start a short position in GS. <\/p>\n

Enjoy the weekend. <\/p>\n

Black Friday CHK Intraday<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

There were very few on the train to work this AM. The volume is very light on the day after Thanksgiving. Probably 80 percent of traders take today off. Why did I trade today? Back in the day two of the best days I have had trading were on Black Friday. 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